Daily News: October 30, 2013

Salus Capital Provides $42.5MM Facility for HiTouch

Salus Capital Partners announced it provided a $42.5 million senior secured credit facility to HiTouch Business Services. The financing will be used for general corporate purposes.

“The Salus team understood exactly what we needed from a financing partner after our initial meeting and provided us with the tools and resources to make it happen,” said Howard Brown, chairman of HiTouch Business Services. “HiTouch is a fast-growing company with a bright future and we look forward to a great relationship with Salus.”

“Howard Brown is an industry veteran with extensive experience in the office supply space with a proven ability to grow companies,” said Andrew H. Moser, president of Salus Capital. “We are confident in the management team’s ability to execute on its unique business model and that HiTouch will be able to utilize the credit facility to help capitalize on the existing inefficiencies within the office supply industry through organic growth and strategic acquisitions.”

Saddle Brook, NJ-HiTouch is a full-service business services company with a nationwide network of local distribution centers.